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On January 1 , 2 0 2 4 , Pharoah issued $ 5 , 7 0 0 , 0 0 0 , 4 % bonds.
On January Pharoah issued $ bonds. Interest is payable semiannually on June and December The bonds mature on January The bonds are sold to yield
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a
Calculate the issue price of the bonds. Round factor values calculations to decimal places, eg and final answer to decimal places, eg
Issue price of bond
$
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b
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